Chinese man jailed for 3.5 years after stealing electricity to mine bitcoin

[Kingofbitcoin12345]

Why do humans resorted into illegal things for the seek of money??

We are too attached to material things that we wanted but we don't particularly need.. This man just an one pity example and this will make a lesson learned the hard way.. 3.5 years is like a lifetime for an amount of bitcoin can be accumulated in legally with an effort to do so..

China isn't a place to do such thing,, it has harsh punishment for such actions..

[Kemarit]

Why do humans resorted into illegal things for the seek of money??

Greed.

We are too attached to material things that we wanted but we don't particularly need.. This man just an one pity example and this will make a lesson learned the hard way.. 3.5 years is like a lifetime for an amount of bitcoin can be accumulated in legally with an effort to do so..

China isn't a place to do such thing,, it has harsh punishment for such actions..

I'm sure that he knows what's coming, he took the risk and now paying for it. Yes, China law is really tough, that's why the crime rate is down, but Chinese still find ways to give it a try, if they can get away with it, its fine, but its a life and death situation for someone if they're caught. So he have to pay for it and serves 3.5 years for stealing electricity. Even high officials being caught for corruption can't do anything about the anti-corruption campaign of Pres. Xi. So I think its fair and he deserves the punishment.

[milewilda]

A man in China has been sentenced to three and a half years in prison after stealing electricity from a train network in order to mine bitcoin. Xu Xinghua from Shanxi province pleaded guilty to stealing 104,000 yuan (£11,300), which was used to mine 3.2 bitcoins. Given the current price of bitcoin, 3.2 bitcoins is worth only a little more than what was stolen, however in times past it would be worth a lot more.

(this is the article : https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-mining-china-prison-train-electricity-cryptocurrency-energy-environment-a8577791.html)

Stealing is stealing and it shouldnt really be tolerated no matter what would be the reason on such act. This man do deserved on what he had done because we all know stealing electricity is
a serious crime and if you abide on paying up the bills on the consumption then you are really violating.Those bitcoin that he had mined would only be pay up on the bail but still he manage to have an extra.
I doubt he wont really commit another one for sure since 2nd offense will really be much bigger.

[veleten]

one of my neighbours told me a story of his brother getting caught stealing energy from the grid
he was mining Etherium and directly wired to the grid, so when he was caught he had to pay around 9.800$ fine
no jail sentence though, but the guy is very very behind on his ROI now 
as for the sentence being hars in China, come on if he managed to disrupt train operations and people died
it is not as far fetched as you would think , unexpected powerdraw and vouala - an accident

[izanagi narukami]

When there is a new job that profitable, human will do anything to achieve it between legal or illegal way.
Crypto mining is new job in this digital era so it's reasonable to happen because as I know that mining require massive amount of electricity.

one of my neighbours told me a story of his brother getting caught stealing energy from the grid
he was mining Etherium and directly wired to the grid, so when he was caught he had to pay around 9.800$ fine
no jail sentence though, but the guy is very very behind on his ROI now 
as for the sentence being hars in China, come on if he managed to disrupt train operations and people died
it is not as far fetched as you would think , unexpected powerdraw and vouala - an accident

That's huge, before crypto mining, my people also stole electricity so they can pay their bill with cheap.

[Capt00]

When there is a new job that profitable, human will do anything to achieve it between legal or illegal way.
Crypto mining is new job in this digital era so it's reasonable to happen because as I know that mining require massive amount of electricity.
snip.

I agree on that, we people are the most greedy species on earth. Even though we know that is already a crime, we still doing it because of money. Stealing is a crime, and those people who committed into this crime must be in jail without any reason. Mining is a low ROI as of now, that's why I don't like mining even and that's the reason they stole electric power supply.

[KrishaBitcoin]

Well this is no one above the law and stealing is a crime therefore it is right that he should face the consequence of being a thief. I hope he earned a lot Bitcoin so that there is some will be left to be spend by his family while he is in prison for 3.5 years.

[bitcoinisbest]

Well this is no one above the law and stealing is a crime therefore it is right that he should face the consequence of being a thief. I hope he earned a lot Bitcoin so that there is some will be left to be spend by his family while he is in prison for 3.5 years.

Stealing itself is the against the law whether used for mining or for some other purpose the person is suppose to pay and use it in a right legal way. So anybody who misuse will result in the prison and government has set a good example by sending that person to 3.5 years of jail and now nobody would dare to use it.

[BitHodler]

I'm sure that he knows what's coming, he took the risk and now paying for it.

I don't think he was aware of what the consequences of his actions were, because if he did, he would refrain from pulling off something so stupid. It's largely pure ignorance combined with a tint of arrogance.

Some people really believe they found ways to remain unnoticed while doing illegal things, and it time on time again proves that you can't remain unnoticed for a long period of time, especially not when it comes to mining.

The peaks in energy consumption can be measured quite easily, and in case of weird usage patterns you can expect a visit from both the police and the company providing you your energy.

[olubams]

Stealing from the government for private benefit is a criminal activity that should be punished and discouraged. Even in businesses, its wrong to use the official properties for personal gains. But in this case, while the man should be punished, sentencing him to 3.5 years in prison is on the extreme that goes beyond just discouraging an action but to send a message about government stand against the continuous popularity of bitcoin.

[Firefox07]

Stealing is a very bad habit. But there are allot of people who will do anything to generate good income. And they don't care if its bad. Like those people who steal the cryptos of other people. So this man will face the consequence of his actions.

[creeps]

I think this doesn't belong to Legal.

You shouldn't really steal anything and even electricity for your own generation of profit. This makes mining look bad for the people that doesn't really know what bitcoin and mining is, poor guy.

Yeah, this is how greedy they are just to earn profit and this kind of news can affect cryptomarket because people may think that bitcoin is really not that good. If you earn a lot in mining better to do it right or you will be like this man who will suffer because of greediness.

Its better to follow the rules/laws in your place than to suffer later on, this is just a money don't do anything that can make you broke later on. Don't rush to earn huge money, go on the process, take it slowly but surely and you will achieve your goal.

[Ridwan Fauzi]

Stealing is a very bad habit. But there are allot of people who will do anything to generate good income. And they don't care if its bad. Like those people who steal the cryptos of other people. So this man will face the consequence of his actions.

I just think, at this time to find illicit money is difficult already furthermore looking for money that is lawful according to the efforts made by someone and he feels satisfied with the money he got. And the legal problem that was accepted by that person was naturally he got because every country had a different legal concept, and even in my country a law could be assessed with money to make the law malfunction.

That's true, but most of the cryptocurrency theft problems that have happened before so far they can still breathe calmly, there is no attempt for every authority to arrest them.

[bryant.coleman]

This is what happens when people get too greedy. He already had the mining rigs, which accounts for most of the capital expenditure. The electricity costs are considerable, but they are nowhere near the capital expenses.

[Hamphser]

Stealing is a very bad habit. But there are allot of people who will do anything to generate good income. And they don't care if its bad. Like those people who steal the cryptos of other people. So this man will face the consequence of his actions.

But these kind of options are only being made by those people who are just too greedy and they do make an option even if they do know its completely illegal.
Now, if they have being caught then they do easily regret on what they have done.If we dont like to make ourselves to mind these kind of options then before mining
we should study first about on our profitability and all the expenses would have made.

[iMark]

I think this doesn't belong to Legal.

You shouldn't really steal anything and even electricity for your own generation of profit. This makes mining look bad for the people that doesn't really know what bitcoin and mining is, poor guy.

Yeah even though there are no regulations and rules regarding crypto, and maybe cryptocurrency is still illegal, it doesn't mean you
can steal something related to crypto and there is no punishment, theft is still illegal and you deserved to jailed

[doodle07]

Stealing is just an unlawful act so it is right to give them some punishment and consequences, its a government regulation that everybody should respect. We can just do what we want but we have to remain rightful and a law abiding citizen.

[rolleth.io]

It is sad to see people that break the law in search of profit. But do not despair, the person got what he deserved. The only disappointment is the fact that the Chinese authorities will begin to closely monitor the bitcoin market.

[LeGaulois]

- Considering £11,300 = $14412

If you do the maths:
- Minimum wage in China: $300 (?)
- 3.5 years x $300= $12,600

So, The man isn't paying a lot for what he committed, he is jailed for the same amount of his crime. what is left $1,8k represents 6 months of a minimum wage in his country. Trust me in another country he could have had a lot more jail time + pay back the money.

[Theb]

So, The man isn't paying a lot for what he committed, he is jailed for the same amount of his crime. what is left $1,8k represents 6 months of a minimum wage in his country. Trust me in another country he could have had a lot more jail time + pay back the money.

But let us consider other factors such as:
-Inflation Rate
-Lost time serving in jail
-and of course having a criminal record in your resume

He may look like he is not paying much for the crimes he committed but this guy's future is inevitable ruined. Most employers if not hire you will give you a lesser role because you have been to jail that is why having a criminal record would definitely destroy your future, and I think 1,800$ is really not worth it, this person after serving his time will now have a hard time of earning money.